Cambridge Affordable Housing Trust

Created by the City Council, the Cambridge Affordable Housing Trust was established in 1989 with the mission of expanding and protecting affordable housing opportunities in Cambridge. The Trust is comprised of a nine-member board that includes experts in housing policy, finance, development, design, and advocacy. The Trust serves as both a policy advisory board and a loan committee, meeting on a monthly basis throughout the year to review proposals for new housing preservation and development efforts and other housing programs, and to discuss affordable housing policy. The Trust has a long-standing commitment to creating high-quality housing that is well-integrated into the greater community and that will remain affordable for future generations. Some of the criteria the Trust uses when reviewing proposals for new programs, policies, and housing developments include:

Creation and preservation of long-term affordability;

High-quality sustainable design to benefit housing residents and the surrounding neighborhood and community;

Use of energy-efficient materials, and environmentally-friendly construction techniques;

Emphasis on the creation of family-sized housing (units with two or more bedrooms); and,

Leveraging of Trust funds by other public and private financing sources.

Through its affordable housing development and acquisition programs, affordable housing preservation programs, first-time homebuyer assistance programs, and its rehab programs, the Trust has helped thousands of families and individuals afford to remain in the Cambridge community.

The Trust offers predevelopment, acquisition, construction, and permanent financing to support the efforts of local housing development organizations to create new affordable housing units, preserve existing affordable housing, and finance the acquisition and rehabilitation of existing properties. The Trust also provides direct assistance to income-eligible families seeking to purchase their first home. Since its inception, the Trust has provided financing for the creation and preservation of 2,600 affordable rental and homeownership units in Cambridge.

The Trust encourages applications from affordable housing providers and developers interested in requesting City funding to assist in the creation of permanent affordable housing in the city.

REPORTS

For more details about the Trust along with descriptions of projects funded by the Trust, please click on one of the Trust Reports listed below: